Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Nothing is more important than making sure that the ones you love are provided for after you are gone. The cost of living is beyond what most can

Amalgamated Life vs Auto Owners Life Insurance Company

manage once the main or secondary bread winner is gone. The financial needs start with funeral and burial costs and extend to the cost of daily life.

The National Funeral Director’s Association notes that the cost of an average funeral in 2009, not including flowers or cemetery fees was $6,560. This is one of many reasons that anyone with dependents should have life insurance.

Use the FREE quotes box and your ZIP code to compare policy costs and benefits now!

With this in mind, shopping for the right life insurance can be a challenge as you navigate agents trying to sell you policies that may or may not be right for you. Companies such as Amalgamated Life Insurance and Auto-Owners Life Insurance Company offer potential policy holders a variety of coverage options to choose from. Take the time and look over the company specialties, specific benefits independent ratings.

Amalgamated Life Insurance Company

Amalgamated Life Insurance was founded in 1943 by man named Sidney Hillman. The basis of Amalgamated Life was to protect and provide affordable insurance to the employees of the clothing factory from which it got its name, Amalgamated Textile and Clothing.

Since 1974, Amalgamated has been given ‘A’ ratings from A.M. Best Company.

Amalgamated has its headquarters in White Plains, New York as well as offices throughout the North Eastern United States. The company focus is on life insurance and the different areas within, such as accidental death and dismemberment, disability and term life. This is a strong and stable provider, as is the competitor described below.

Amalgamated Life Insurance vs Auto Owners Life Insurance

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Auto-Owners Life Insurance Company

Auto-Owners Life Insurance Company was established in 1966. It is one of six companies that comprise the Auto-Owners Insurance Group, which was founded in 1916 and is recognized for exceptional financial strength and stability among the nation’s largest insurers.

The Auto-Owners Life Insurance Company has its home office Lansing, Michigan. It offers life, disability income, long term care, and annuity programs through over 6,000 independent insurance agencies in 26 states.

Auto-Owners Life Insurance Company receives a rating of A+ (superior) from A.M. Best.

The property and casualty insurance affiliates have been consistently rated A++ (Superior), which is the highest score possible awarded to an insurance company for financial strength and ability to honor policyholder claims.

Amalgamated Life Policies

  • Amalgamated Life Insurance vs Auto Owners for DependentsLife Insurance: Offers coverage of basic group term life. This policy covers the employee, his or her eligible dependents and spouse. Life group term provides the worker flexibility to choose the benefit amount. This also allows them to transfer from a term policy to a permanent policy later. Contracts are age rated. You can read what Smart Money has to say about term and permanent policies here.
  • Dependent Life: Members are allowed to take out additional term life policy for their husband or wife, as well as dependents. The allowance is half of the employee’s coverage or up to $100,000.
  • Supplemental life: This policy is used together with the term life. This optional coverage is available on contributory basis.

Amalgamated’s Additional Policies

In addition to life insurance coverage, amalgamated offers other policies intended to help seriously ill or injured workers get back on their feet.

  • Accidental Death and Dismemberment: This is available only to those employees enrolled in the company’s group term life policy.
  • Short Term Disability: When a group employee is injured, or falls ill, while not at work, or directly pertaining to their job in anyway, they are allowed to receive a percentage of their wages during their off time.
  • Long Term Disability: If an employee is injured, or falls ill, in a non- work related incident, he or she will draw a percentage of their wages for a much longer time if needed. The percent of wage, and duration for which they need to receive it, is decided upon by the client/employer and Amalgamated.

Workers Life Plus is a coverage that allows the employee to choose a premium that never changes; however, the benefits decrease as they become older. This is better suited for a younger employee. Workers Life Level is the flip side of the plus policy above. The benefits never change but the premium consistently goes up over the years. This is better suited for the older employee.

Although Amalgamated Life Insurance Company does not offer vision, dental or accident coverage for the employees, they have stated that it will become available within the near future.

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Auto-Owners Life Insurance Company

It was noted earlier that Amalgamated offers the chance to transfer a term life policy into a permanent policy. Auto-Owners Life also offers permanent programs with their universal and whole life plans.

The benefit of a universal program is that it provides immediate cash value, flexible premium payment plans, tax deferred savings, and guaranteed death benefits.

whole life program provides level death benefit protection with level premiums and guaranteed cash values. These programs can provide needed cash for emergency family needs and can help supplement future retirement needs.

The simplified issue whole life program offers guaranteed premiums, death benefit protection and cash values to age 110 for insureds age 50-80. The program can provide coverage for final expenses, such as medical and hospital expenses, outstanding debts, and funeral costs.

You can read another opinion, by money guru Dave Ramsey, on the wisdom of term and whole life policies here.

Auto-Owners Other Policies

If you want to bundle your life insurance with other insurance policies, you can usually save money. Auto-Owners does offer other policies that many people require.

  • Amalgamted Life Insurance vs Auto Owners Life Insurance Policy

    Home Insurance: Policy covers the home, contents of the home and provides protection against theft and even food spoilage (optional coverage) in case of power outage.

  • Auto Insurance: Covers the holder and their vehicle if involved in an accident. Depending on the specific options selected it may cover the vehicle if stolen or involved in an accident while parked and unoccupied.
  • Business Insurance: The business can cover their building, contents(e.g., equipment, furniture, supplies, etc.), and liability in addition to their company vehicles and workers’ compensation.

How to Choose the Right Provider

Knowing that both providers are well rated is a great place to start. The next step is to consider the type of protection you are seeking. If both providers offer it then it is time to compare rates.

Enter your ZIP code now and let the FREE rates tool show you quote comparisons today!